MUFG Delays AT1 Bond Sale to After Mid-May Post-Credit Suisse
- Wipe-out of Credit Suisse’s AT1s triggered global selloff
- SMFG has started sounding out demand for its riskier bonds
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Mitsubishi UFJ Financial Group Inc. is delaying the sale of an additional tier 1 bond until at least mid-May following a selloff in such debt globally, triggered by writedowns at Credit Suisse Group AG.
Japan’s biggest bank decided to change its plan based on market developments and investor demand, said Mikito Horino, a spokesman for MUFG. The lender previously signaled its intention to sell the notes as early as late April.